4 Essential Mobile Security Steps to Safeguard Your Money

Mobile security is a major concern these days. The growing popularity and reliance on mobile devices, from shopping to paying bills, has led to an increase in cyber attacks from cyber criminals. Be it an Apple or an Android mobile device, hackers are trying to make quick financial gains. With this in mind, it’s important to make sure your mobile device—and the private information stored on it—is as protected from security threats.

1. Do You Consider the Source?

Think before you open, reply to, or click on links in emails from unknown sources, and never give out your credit card or account information. Even if the email appears to be from a legitimate financial institution, forward it to your bank, then delete it.

You should also be cautious about replying to unexpected text messages. Thieves use a text-based version of phishing—known as SMiShing—and take advantage of the urgent nature of texts, to catch you off guard. Also, don’t download attachments or click on links in a text, email, or pop-up unless you are absolutely certain they’re safe.

2. Are You Sharing Too Much?

Fingerprint authentication and device passwords are great security measures. Enabling a passcode, fingerprint, or other biometric logins for your mobile device helps safeguard your information, in the event your device is lost or stolen. Sharing them with anyone can put your information at risk.

3. Are You Using One Password for Your Accounts?

Create a unique password for your bank accounts that’s different from your social media, email, or shopping passwords. Don’t use your banking password for any other sites. Fraudsters know many people reuse passwords, so they may use this stolen information to try to access bank accounts.

4. Is Your Smartphone Smart Enough to Protect You?

Turn on mobile app notifications and alerts for financial institution apps, to help you manage your account securely. When you set up alerts through your bank’s website or mobile app, you’ll receive customizable notifications about your account. You can choose to be notified about suspicious transactions or attempts to change your personal information, like your address or ID.

Another key bit of advice is to change your passwords every few months. When it’s available, consider using two sources of authentication to provide even greater security, such as requiring you to enter a code sent by text or email before you sign in. Also, make sure that you download apps from the official app store for your device. This way, you know that is has been verified.